I would think 25% would be more than sufficient in funds to keep you in business.

Then start learning and looking for an RE investment that fits that model.

I've been hesitant to go into business with friends, but it could be a powerful play, and a valuable learning experience.

I'd like to thank Bigger Pockets  for all the wonderful content which I have been busy going through.

In our area (Orlando / Kissimmee / Davenport), summer is super busy. 

@Eilon ShohamSTR and MTR can be profitable with the right business plan. 

It's the cost of doing business.

I'd agree....but his guests will fell creeped out and hurt his business.

Heavily consider investing with GP's that tend to like the money but do not NEED the money to survive or keep some business model alive.Some of my friends did massive exits with multifamily and sitting on tens of millions or more in cash with pencils down on that asset class unless they can buy quality at say 6 cap and assume a loan with 5 to 7 years remaining in the 3's fixed with 25 to 30 year amortization schedule.

As you probably know, water in the basement will start to produce mold in about 24 hours, so your first order of business is to get the basement dry ASAP.